Retail

ON THE RECORD - EARNINGS

May 13, 1993

NEW YORK — Wal-Mart Stores Inc. reported a 16 percent rise in quarterly profit Wednesday, while Woolworth Corp. said its profit plunged. Wal-Mart, the nation's biggest retailer, said net income climbed to $450.7 million for its first quarter that ended April 30, compared with $387 million a year earlier. Sales climbed 19 percent from $11.65 billion a year earlier. Woolworth reported a profit of $1 million for its first quarter, compared with $17 million a year earlier. Sales edged up by 1.9 percent to $2.14 billion from $2.10 billion. Federated Department Stores said a charge related to debt reduction reduced first-quarter profit to $18.2 million, from what would have been a profit of $21.7 million. A year ago, the company, which owns Burdines and Bloomingdale's, among other chains, earned $11.8 million. Federated's sales rose to $1.59 billion from $1.57 billion.